Pensions Explained UK | Pension Basics for everyone

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Title	:	Pensions Explained UK \| Pension Basics for everyone
Lasting	:	12.03
Date of publication	:
Views	:	325 rb

Well done on expluaing UK pensions in just over 10 minutes
Comment from : Mike Royce

Very helpful
Comment from : Ham Dogg

Someone help me ive been doing research for some time now but i cant help but think that for someone like me with a 30 year horizon before i want to retire I should opt out of any employer pension schemes and put 100 of my spare cash in a good index fund with the pot being managed and protected more towards my retirement date Someone talk sense into me
Comment from : OmnipresentASMR

Thank you so much - so is a DC pension risky at all? As it’s being invested; can you lose it? Or is protected somehow?
Comment from : HA

can you do a room tour please bro
Comment from : Larry Grootulstein

I'm 60 next year and currently saving for my retirement brWould i be better off putting the money i save in a savings account or into my work place pension
Comment from : Terry Robinson

Another great video A question please, Is it legal for an ex employer to change my pension from a stakeholder pension to a SIPP?
Comment from : Sidders Sidders

Pensions are used as leverage in the magic money system which makes big money for the pension corporations whilst giving the pension investor minimal gains In a very poor market / recession / depression you can lose everything
Comment from : Derek Tomlinson

Question : I work for local government, is it worth me paying more with spare cash even though I'm 53?
Comment from : Emma Langhorne

You didn't mention state pension, I know it's not much, but surely worth mentioning Still a very useful video I wish I knew more Off to watch more videos 😊👍🏼thanks
Comment from : Emma Langhorne

My main concern about pensions is what if it ends up getting looted That's basically what the likes of Maxwell and Philip Green did, isnt it? I think we're kidding ourselves if we think it's not going to happen again
Comment from : The Crimson Dragon

Really useful
Comment from : Ezinma88

Why are people so agaisnt pensions these days?
Comment from : The Meat Spot

Thank you so much for this clear video, I have one question pls - in case of a personal pension, why is employer obligated to contribute equal amount? brbrIn my case my employer already provides pension as part of compensation benefit but I am thinking of opening a separate personal pension account
Comment from : prakash tiwari

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly—which means more red ink for portfolios this quarter How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $275k bond/stock portfolio
Comment from : Susan Nico

What percent of a salary would you recommend people put into their pensions?
Comment from : EV1

It's not free money if you have to pay it back when you actually want to use it 😂
Comment from : EV1

You could pay into a big name insurer who informs you sorry half your money is gone and you need to increase payments as there will be shortfall, ten years later ditto and again in another ten years so you either end up with 25 of what you had or you pay in four times more than you expected to
Comment from : Michael Stevens

Hi can u help I asked for 2500£ to come off my wages before tax salary sacrificebut my employer out it in stakeholder after tax brWhich I got not tax reliefi contacted HMRC and they said I can claim it back but I had to be over £44000 but because I do salary sacrifice my top wage if 50000£ will be under that so they said I can't get it so I have lost over £599 because if this error any advice
Comment from : ricky sutherland

What is the difference between actual contributiona d and expected contribution in autoenrollment process of employer please could you explain in detail
Comment from : shiny ss

When the future comes everything change’s if you get anything promised you will be very lucky I’ve been there believe me
Comment from : Thomas Pridmore

It’s always baffled me why they don’t have these teachings at secondary school, almost like the curriculum isn’t interested in educating young people on Pensions and their future, but …always do your homework and don’t forget your PE kit What a load of shit the schooling system is
Comment from : John smith

Great video I'm in my 30s but I am now planning for retirement (although I should've started in my 20s) New subscriber here!
Comment from : The Couch Potato88

Don't trust pension providers including the governmentbrbrIts theft
Comment from : TwoWheelsGood

Thank you, great video Kinda simple ;-)
Comment from : Marcin Kuzborski

Can you also combine annuity with drawdown?
Comment from : Stephen Godsmark

Thanks for the nice explanation From what I understood, it seem better to invest in properties and rent it than going into the DC Rent income is pretty much like DB
Comment from : Jakub Kwasny

Can you have a private and workplace pension at the same time?
Comment from : Good life living

Whats difference in privtae personal pensions and long term investing in stocks and shares isa? Is 1 less taxation?brLatter being can access at any age?brI'm 43 so have another 25 years before state retirement brMy workplace scheme seems a bit rubbish
Comment from : Good life living

Just subscribed this is great, brI need advice and i need to learn how to make money workbrThank you for your hard work, can i join the academybrWhat do i need to do
Comment from : Craig Rollinson

Would you advise taking out 12570 a year from your pension starting from age 55?
Comment from : Iris Danagher

All my pension has done is bomb out in the last three years My pension company pensionbee hasn't made me one single penny since I joined them with all there B/S promises All pension companies do is basically rob you behind your back
Comment from : Richard Taylor

One of the very best explanations of pension basics I have ever come across This should be compulsory viewing for everyone
Comment from : Ralph Parish

I think this also applies to some other countries too! thank u!!
Comment from : 김민지

This is my fifth year after retirement I’e been following the 4 rule thing, but this isn’t really how hard I expected things to be After I cashed out a lump sum, I still have about $760k left, but at this rate, and with how the market is (we were putting money away in an index fund), I’m starting to get really worried
Comment from : Cloudy Blaze

I admire the financial independence of people, But you can live better if you work a little more After watching this I think there are people out there, on the extreme, who plan to die early just to be able to retire early To each their own but to me, retirement isn't just about not having to work, it's about having the freedom to do whatever you might reasonably want, such as travel, buying things, enjoying life, etc I don't think I could retire with less than $3m in income-generating investments, maybe $2m at the very minimum I plan to work until I'm at least 45
Comment from : Dev Daniel

10mins 21secs, thats the bit that concerns me! when i mentioned this to my pension company they flatly refused to offer me anything!! stating that it was too early!!
Comment from : chris coughlan

Awesome contentbrbrI have finally gained access to my pension account and can now review its details I wanted to seek your advice regarding whether I should pay for all the shortfalls or just a few specific years that I have missed I have attempted to contact the future pension center for guidance, but unfortunately, it has been difficult to reach them and obtain any advice Therefore, I am reaching out to you in search of expert advice brSo far I've got 4 years of full contributions, 11 years I did not contribute enough, so I've got 28 years to contribute before 5 April 2051brShould I make up the payment shortfalls in full or are there other considerations to take into account? brbrI greatly appreciate any guidance you can provide on this matter Thank you for your assistance
Comment from : Maxel Brig

I have a questionbrIf i get 22 years record on my state pension and for example its like 6k per year by 2039 and the working allowance its 16k an year this means that i can take from my pot 10k pee year free tax or i need pay tax as well if both combined don't go over 16k?
Comment from : Joao Mendonca

Great videos thanks I was hoping to reduce CT from my limited company by paying in employer contributions to my SIPP I’m now told that as I drew £6k from my SIPP back in 2016 I am only now allowed to pay in £10k per year which sounds crazy and somewhat unfair 😢
Comment from : Nick Richards

Can employers pay directly into a SIPP?
Comment from : Marcus Nelson

Can you make another video on tax relief and pensions, with number examples thanks
Comment from : Melisa Whiskey

Thanks for a great explanation of this I still struggle to understand though what happens to all the money, say in the 2015 NHS scheme which is DB The amount contributed by employee and employer always seems to be so much more than the 1/54th promised for each contribution year? Anyone explain the maths here?
Comment from : John Cornish

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways
Comment from : Harper Levi

Question: Using the same example of a £200K pot; considering a drawdown period of 20 years - does it mean for someone who has not taken the tax free lump sum can actually take £12570 + £2500 per year before starting to pay tax?
Comment from : Vivian Robert

The music in between was so loud in between it nearly blasted my ears off 😮
Comment from : Vicky Rainbow

Wonderful!
Comment from : dorje tseten

VOTE this SHT TORY government OUT they don't look after there own SIX MILLION a day on illegal MIGRANTS but if you have paid taxes for over 50 years your treated like dirt
Comment from : andrew hubbard

The more I think ,I ll just keep working the less muddled I am …it’s a golden age when I can afford to pay a car bill ,,literally the best time of my working life ,why spil it ? And also getting wasted listening to simple minds
Comment from : Bob Bob

Thanks for the informative video KIS Keep It Simple 👍 Can I receive tax relief of my employer’s pension contributions?
Comment from : Ian Marshall

Thanks for this So useful Could I just ask; is the income tax paid on a DB pension the exact same as would be taxed on a salary? Ie if I'm getting 40k per year DB pension, I'd pay exactly the same overall tax as I would if I was getting a 40k salary?
Comment from : mz800

Really great video for explaining the basics Do you have a video explaining how pensions work for people who have ill health and are unlikely to make it to those 60's and 70's?
Comment from : joe blogs

Brilliant Thank you
Comment from : A A

Excellent - really helpful, thanks
Comment from : Malcolm Earle Smith

Good video
Comment from : Cosmin Morga

This is the best video and explanation on how pensions work put in simple terms Thank you and well donebrI have subscribed to this channel 10/10
Comment from : London 64

When it comes to the British state pension, it’s EASY You cannot now claim a state pension until your near death, or they would be happier if you were to croak it and never collect on your life time saving for a shit pathetic British state pension EASY
Comment from : George Swampy

Great video I worked for a very large and well known company and have recently become a pension rep Its a voluntary role but I'm passionate that all employees, particularly the younger ones, get educated to know their options available The company only offers DC now to new members but its pretty generous at 8+12 but some newer joiners are still in the auto enrollment level Fine that everyone's situation is different when it comes to what they can or want to save but I just like to make sure they are aware if all the options and figures I'm really enjoying it
Comment from : J D

Can you tell me about the pensions of my mates all worked there bag out all there lives state pension is 67 these died last aged 55 57 62 62 that 4 people what happens to their pension I'm 62 with I'll health worked all my life what advice have you for me
Comment from : Alan Brown

Great video on pension and investment I just came across your channel and I have subscribed immediately I really need educating on investment and pension Thank you
Comment from : Tola Gus

I'm 44 and I must of had over 25 different jobs in my time How do I find all these little pension pots I have had I have tried using different find my pension schemes but they need to know who the pension provider was I have absolutely no idea who these providers were Is there any way of sorting out this mess or is that money just lost
Comment from : Night Narrator

What if you don't make it to retirement 😔
Comment from : SPATTERPUS

Great vid cheers As a recent uni graduate I'm currently putting 6 of my wages into pension which is fully matched by my employer though I'm wondering if you think it would be worth contributing around 17 of my wages to my pension so that I'm under the threshold of uni loan repayments?brbrI can survive fine without 17 currently and with the current payback rate on my loans vs it's accumulating interest, it seems pointless to pay into, and I can potentially just tuck away that money for my future instead plus all student debt is scrubbed for free after 30 years! Do you think this could be a good idea?
Comment from : Big Timbo

Thanks for this - wondered if you can have a state and private pension How do you manage 2 pensions if so?
Comment from : Dreamor A

As other commentors have said - that was very well explained Thanks
Comment from : Paul Hardingham

Took me 30 years to understand how this works God bless you😂
Comment from : Blackfeet

Which is more worthwhile, contributing more than 3 to a workplace pension (which my employer doubles) or allocating that difference to a SIPP?
Comment from : Thalys de Aguiar Gomes

What's is the compensation Fund retirement?
Comment from : Lynny Lynns Original

Where were you when i was 18 not 80 to late for me why don’t we learn these things in schools
Comment from : Thomas Pridmore

With DC pensions when you pass away what happens to the remaining amount of money in the pension scheme if it wasn’t handed over to an insurance company for a guaranteed income, is the remaining money left to the estate?
Comment from : Adam Machin

Really well presented and very helpful! Thank you
Comment from : Dav Hughes

I don't understand As a self employed person, is that 25 tax relief physically added to the pot as implied in the video, or is that amount taken off your annual taxable income to reduce your tax bill to encourage you to put the 25 BACK into the pot?
Comment from : nazz0007

Thank you for this video! A quick one Within Defined Benefit schemes I understand that a spouses pension can be paid (dependent on the rules of the scheme) however is this always paid until the spouses death? Reason I ask is that it was my understanding that a dependents scheme pension: brbr1) Does not have to be paid for the life of a dependent br2) Does not have to be paid annually br3) May be reduced at any time in accordance with the rules of the scheme brbrI may have misunderstood, therefore I would value your input brbrThank you
Comment from : Bailey Hood

My pension was just handed to another financier and I wasn’t told till it was already done ,all my money and my private information, so I panicked and I withdrew it all and had a massive tax bill to pay ,as I’d already taken my 25 tax free lump sumbrWhere do I stand is re accountable for selling my pension ,would appreciate any advice
Comment from : dennis king

Why can’t we transfer crystalesed pension,please explain,I think I got wrong information somewhere
Comment from : dennis king

Greatest thing about a UK state pension is that it pays your wife half after you've snuffed it
Comment from : Robert Woods

Wot? If I personally invest in for pension, how is it tax free if the tha is already deduted from the salary before you even invested
Comment from : rai x

Don’t forget to work hard and get yourself the biggest house possible ready to hand over to the government at the end brThey will ignore your will to pay for any care costs that others manage to dodge But not you because you are the sort of person this government needs Your planned inheritance may be used up this way but I believe the government will let you keep the last 80,000 which could get you a fantastic funeral which will be taxedbrbrPSbrThe best part of it is, most of the people in these comments will have voted for this government, so you’ve only got yourself to blame if you don’t like it
Comment from : King Arthur

You pay 80 the government 20 and your employer 100 - sounds good on paper brThe only problem is the Employer payment rate brAs usual Employers pay way below the price for the work you do brOther than that good explanation sir, thank you
Comment from : badboxs

Pension vs Real Estate investment? Which is better?
Comment from : RINCHHEN SHERPA

where is the best place to start to find out first what you are eligible for?brI am living in Canada and worked in The UK since sept 1979 to Nov 2003brand my wife did not work as much but she was apartner in my busines for some time
Comment from : Simon Beaumont

Basic aged pension is $500 pw plus many gov concessions and rent subsidy if renting private housing up to $50 pw
Comment from : Eric

UK does it have compulsory superannuation paid by employer in Australia it's soon going to be 12
Comment from : Eric

you can lost all your money in DC
Comment from : someone speci

Thank you for your explanations I am now 73 years old and I heard I should have claimed pension when I was 65 but this I didn’t know I started applying and get it since 2021 November-December Am I not allowed to have the back pension (even a portion) of which I did not claim before for several years?
Comment from : AndYong